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7016 Spring Park Drive Little Elm, TX 76227

4 Beds 3 Baths 2,089 sqft Built 2021

$428,486

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $205.12
  • 3 Days on Market
  • MLS # : 14509069
  • Updated Date : 01/29/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,089 sqft
  • Baths : 3 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14509069 - Built by Highland Homes - May completion! ~ One story home with a beautiful front covered patio. 11 foot tall ceilings and upgrades include, 3rd full Bath ilo Storage, Master Drop-in Tub separate Shower, Rear BrickMaster Bay Window Extended Outdoor Living, upgraded flooring, upgraded countertops in kitchen, upgraded Kitchen cabinets, etc. See onsite Sales Counselor for more details.

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Union Park

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Union Park

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$385,637$471,335$428,486

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,488
Property Tax -$916
Property Insurance -$148
HOA -$108
Property Management Fees -$99
CASH FLOW
-$669

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$428,486

PROJECTED PRICE

$2,090

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,549

INVESTMENT

$115,549

Down Payment
$107,122
Rehab Estimate
$2,000
Closing Costs
$6,427

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,488

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,122
Loan Amount $321,365
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$5

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,090

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,032

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9993$2,0904$2,1005$2,250
$2,250
RENT COMPS ANALYSIS
  • 7016 Spring Park Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.00
    •  
  • 1004 Caudle Lane Savannah, TX 1
    • 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 2008
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
  • 1009 Appalachian Lane Savannah, TX 2
    • 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2009
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.93
    •  
  • 1224 Hayden Lane Savannah, TX 4
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 5104 Pavilion Way Little Elm, TX 5
    • 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 2017
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.05
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509069
Last Updated: 01/29/2021
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